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Robinhood Emerges as Major Ethereum Holder

A Diversified Portfolio: Going Beyond ETH and BTC

Robinhood, initially celebrated for democratizing stock trading, is now emerging as a major player in the cryptocurrency industry. A recent report from blockchain analytics firm Arkham Intelligence reveals that Robinhood is the fifth-largest holder of Ethereum (ETH) in the world, with an estimated $2.54 billion in ETH. This adds an intriguing dimension to Robinhood’s already substantial presence in the digital asset market.

Arkham further specifies that Robinhood’s crypto assets are custodial, meaning they are held for users rather than for the platform itself. The broker is not limited to Ethereum and Bitcoin; it diversifies with a vast collection of other digital tokens. Specifically, Robinhood holds a significant amount of Shiba Inu (SHIB) tokens worth nearly $277.8 million, 4.9 million Chainlink (LINK) tokens totaling approximately $29.7 million, and 2.6 million Avalanche (AVAX) tokens valued at around $29.6 million.

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